Marvell Technology settles securities class action for $72.5 million

Posted on: December 21st, 2017 by Steve Larson

A motion for preliminary approval of a class action settlement was filed in California federal court on December 19, 2017 by investors in Marvell Technology. Under the deal, Marvell will pay pay $72.5 million to end an investor class action alleging the company’s stock dropped 16 percent after inflated revenue projections proved false. The settlement comes after U.S. District Judge William Alsup certified the case as a class action.

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